NAPLES, Fla. (PRWEB) May 26, 2021
Valbridge Property Advisors, the largest independent commercial appraisal and advisory firm in the U.S., announced today a strategic partnership with Coverlease, a cloud-based commercial real estate (CRE) lease data collection and aggregation platform.
As a fast-growing leader in valuation technology, Valbridge Property Advisors’ strategic partnership with Coverlease demonstrates the company’s commitment to emerging technologies designed to benefit the CRE industry. While lease data is the source of investment return and loan repayment, and serves as the basis for valuation of properties, harnessing commercial lease data in a cooperative platform is an area that remains largely untapped. “Valbridge is one of the most forward-thinking companies I know of in the industry. Technology is in their DNA,” says Tony Lesicka, CEO of Coverlease. “In this case, they are doing for Coverlease what Holiday Inn had done for Smith Travel Research,” says Lesicka.
Coverlease is a cooperative platform that operates similarly to a credit reporting system, but for commercial real estate lease data. Actual lease data is the most powerful and all-encompassing dataset in the CRE industry, because it represents the sum-total of all economic factors that influence pricing decisions. Valbridge Property Advisors is the first national CRE appraisal firm to import leasing data into Coverlease, further demonstrating Valbridge’s confidence in the product.
“Our partnership with Coverlease is another example of how we are working to better the CRE industry and give professionals the tools they need to deliver more accurate and expedient valuations,” said Rick Armalavage, CEO of Valbridge Property Advisors. “We want to continue delivering the highest level of quality and service to our clients. Coverlease is an important tool in our suite of CRE technology solutions, capturing one of the most important data points with automation and efficiency,” said Armalavage.
About Valbridge Property Advisors
Valbridge Property Advisors is the largest independent commercial property valuation and advisory services firm in the U.S., with 200+ MAI-designated appraisers, 80 office locations, and more than 675 staff across the nation. Valbridge provides independent appraisal services consistent with the highest industry standards of practice. Each Valbridge office is led by an appraiser who holds the MAI designation of the Appraisal Institute. For more information about Valbridge Property Advisors, please visit https://www.valbridge.com.
Coverlease, a cloud-based solution, uses best-in-class machine learning models and analytics to collect and aggregate commercial real estate lease and other data. Providing a powerful approach to data collection and secure sharing, Coverlease informs business decisions and strengthens financial returns for all stakeholders of the CRE industry including lenders, appraisers, capital markets, investors, landlords, tenants, developers, and brokers. Launched in 2020 by a team of seasoned CRE professionals, Coverlease is quickly becoming the market standard for lease data and market insights for the commercial real estate industry. For more information, visit https://coverlease.com/